Individual Spends Nearly $1 Million on PEPE Coin, Becomes Tenth-Largest Holder

Lookonchain, an on-chain analyst, provided details about an individual who spent nearly $1 million to acquire PEPE Coin. Based on the on-chain data, the user purchased 3.79 trillion PEPE with 422 ETH and 100 K USDC between April 19, 2022, and April 2023, at an average price of $0.0000002563, making them the tenth-largest holder of PEPE.

PEPE gained significant attention during its initial days, particularly after a meme coin trader traded 0.125 ETH for 5.9 trillion PEPE tokens, which were valued at around $250. As interest grew, the value of these coins skyrocketed to approximately $1.8 million by April 19, 2023, representing a potential return of approximately 4,500 times the initial investment.

Last week, PEPE’s market capitalization rose from a few thousand dollars to over $150 million, generating considerable excitement and inspiring the creation of many similar tokens in other blockchains.

As of now, PEPE is trading at $0.0000002238, down 9% in the last 24 h. PEPE’s all-time high was $0.0000004036 before dropping to its current price. However, it remains unclear whether it is a short-lived pump, dump, or another significant meme-coin.

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